Slide 1: First Quarter 2013 Earnings Call Presentation
Unsaved Document / 2/22/2012 / 17:42 First Quarter 2013 Earnings Call Presentation May 21, 2013
Slide 2: Safe Harbor Language
Safe Harbor Language This press release contains certain statements that are “forward - looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 . These forward - looking statements are based on current expectations and assumptions that are subject to risks and
Slide 3: Poised for Revenue and Profitability Recovery
Poised for Revenue and Profitability Recovery Second - Gen Constellation & Product Development Build Earnings Power Debt Refinancing Continued momentum in revenue growth Sixth consecutive quarter of positive Adjusted EBITDA, up 82% over Q1 2012 Service levels improved significantly; full servi
Slide 4: Successful Completion of 5.75% Notes Exchange
Successful Completion of 5.75% Notes Exchange On May 20th, 2013, Globalstar successfully completed a refinancing of its 5.75% notes by entering into an Exchange Agreement with the holders, resolving the April 1, 2013 put Thermo invested $25 million into Globalstar to facilitate the transaction and
Slide 5: COFACE Facility Amendment Update
$34.2 $56.5 $57.7 $35.1 $5.9 $26.5 $19.5 $4.0 $6.4 $32.8 $75.8 $77.8 $94.8 $294.5 $0.0 $50.0 $100.0 $150.0 $200.0 $250.0 $300.0 COFACE Facility Amendment Update Agreement with COFACE and its bank group regarding material improvements to principal amortization schedule and covenant levels among other
Slide 6: Spectrum Update
Spectrum Update On November 13th, 2012, Globalstar filed a Petition for Rulemaking with the Federal Communications Commission (“FCC” or the “Commission”) for authority to provide a host of terrestrial mobile broadband services over its spectrum 4 FCC received comments and reply comments in January
Slide 7: Q1 2013 Results Summary
Q1 2013 Results Summary Summary Financial Performance 5 (1) Adjusted to exclude non - cash compensation expense, reduction in the value of assets, foreign exchange (gains)/losses, R&D co sts associated with the development of new consumer products and certain other one - time charges. See reconcilia
Slide 8: Duplex ARPU Restoration and Historical Adjusted EBITDA
($1.8) ($0.3) ($2.1) ($4.3) ($2.5) ($2.0) ($3.5) $1.6 $1.4 $2.9 $3.1 $2.5 $2.5 ($5.0) ($4.0) ($3.0) ($2.0) ($1.0) $0.0 $1.0 $2.0 $3.0 $4.0 $20.43 $20.68 $20.03 $18.33 $17.83 $18.87 $18.37 $14.99 $15.35 $16.74 $18.95 $18.49 $19.24 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 $21.00 $22.00
Slide 9: Second-Generation Update
Second - Generation Update Second - Generation Update On February 6, 2013, Globalstar successfully completed the fourth launch of second - generation satellites from the Baikonur Comsodrome 12 th successful launch on the Soyuz vehicle with long - standing partner Arianespace and their affiliate
Slide 10: New Products: Positioned to Broaden Addressable Market
New Products: Positioned to Broaden Addressable Market 8 Product Features New Products Battery life 2x SPOT 2 Enhanced customization features Smaller form factor USB connection for line power eliminates the need for battery replacement New movement messaging, theft alerting capabilities
Slide 11: Globalstar Value Drivers
Globalstar Value Drivers Low Cost Second - Gen Satellite Ecosystem x Breakthrough Mass Market Products x Valuable Spectrum Assets x Offers the industry’s lowest cost and highest voice quality Second - generation provides significant cost benefits and network performance enhancements years before
Slide 12: Annex A – Adjusted EBITDA Reconciliation
Annex A – Adjusted EBITDA Reconciliation 10 ($ in millions) Q1 2010 Q2 2010 Q3 2010 Q4 2010 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 2012 Q1 2013 . Net loss ($35.6) ($19.2) ($24.5) ($18.1) ($97.5) ($6.5) ($14.1) ($0.7) ($33.7) ($54.9) ($24.5) ($27.5) ($41.2) ($19.0)